Treasury bond

912810SY5 · 2.25% due May 15, 2041

Original term
20-Year
Maturity
May 15, 2041
Coupon
2.250%
Pays
Semi-Annual
Dated
May 15, 2021
First coupon
Nov 15, 2021
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$74.25bn
Held stripped
$606.4m
Share stripped
0.82%

Stripped par is held as separate interest and principal components rather than as whole securities. The Safe Rate indices deliberately do not deduct it, and the whole-market figure is published so that decision can be argued with. Market statistics.

Amount outstanding as reported by Treasury, in its Monthly Statement of the Public Debt. The Safe Rate indices weight on a different figure, float-adjusted original par, and the two are not comparable security by security. The index figures are published per holding.

Risk, November 9, 2026

Yield to maturity
5.167%
Modified duration
11.483 yr
DV01
0.0822
Convexity
1.57
Dirty price
71.563

Where its rate sensitivity sits

0.01
0.03
0.06
0.13
0.25
0.41
1.73
9.13
3M
6M
1Y
2Y
3Y
5Y
7Y
10Y
15Y
20Y
25Y
30Y
Sensitivity to a one basis point move at each point on the curve, in years. Concentrated in 8 of twelve buckets, summing to 11.733 years against a modified duration of 11.483.

Against the fitted curve

Priced 0.3 bp cheap to the curve on that day, 2.83 cents per 100 of face.

That is -0.27 standard deviations from its own typical residual.

Yield to maturity, 1,361 observations

1%2%3%4%5%6%Jun 1, 2021Nov 9, 2026Jun 1, 2021Yield to maturity2.221%Jun 9, 2021Yield to maturity2.098%Jun 17, 2021Yield to maturity2.054%Jun 25, 2021Yield to maturity2.092%Jul 6, 2021Yield to maturity1.919%Jul 14, 2021Yield to maturity1.908%Jul 22, 2021Yield to maturity1.816%Jul 30, 2021Yield to maturity1.805%Aug 9, 2021Yield to maturity1.867%Aug 17, 2021Yield to maturity1.815%Aug 25, 2021Yield to maturity1.860%Sep 2, 2021Yield to maturity1.807%Sep 13, 2021Yield to maturity1.812%Sep 21, 2021Yield to maturity1.777%Sep 29, 2021Yield to maturity2.019%Oct 7, 2021Yield to maturity2.065%Oct 18, 2021Yield to maturity1.981%Oct 26, 2021Yield to maturity2.021%Nov 3, 2021Yield to maturity2.003%Nov 12, 2021Yield to maturity1.973%Nov 22, 2021Yield to maturity2.024%Dec 1, 2021Yield to maturity1.847%Dec 9, 2021Yield to maturity1.917%Dec 17, 2021Yield to maturity1.872%Dec 28, 2021Yield to maturity1.943%Jan 5, 2022Yield to maturity2.119%Jan 13, 2022Yield to maturity2.108%Jan 24, 2022Yield to maturity2.158%Feb 1, 2022Yield to maturity2.192%Feb 9, 2022Yield to maturity2.315%Feb 17, 2022Yield to maturity2.378%Feb 28, 2022Yield to maturity2.268%Mar 8, 2022Yield to maturity2.352%Mar 16, 2022Yield to maturity2.580%Mar 24, 2022Yield to maturity2.649%Apr 1, 2022Yield to maturity2.613%Apr 11, 2022Yield to maturity3.044%Apr 20, 2022Yield to maturity3.104%Apr 28, 2022Yield to maturity3.133%May 6, 2022Yield to maturity3.472%May 16, 2022Yield to maturity3.331%May 24, 2022Yield to maturity3.203%Jun 2, 2022Yield to maturity3.343%Jun 10, 2022Yield to maturity3.500%Jun 21, 2022Yield to maturity3.685%Jun 29, 2022Yield to maturity3.510%Jul 8, 2022Yield to maturity3.568%Jul 18, 2022Yield to maturity3.429%Jul 26, 2022Yield to maturity3.315%Aug 3, 2022Yield to maturity3.225%Aug 11, 2022Yield to maturity3.429%Aug 19, 2022Yield to maturity3.507%Aug 29, 2022Yield to maturity3.575%Sep 7, 2022Yield to maturity3.743%Sep 15, 2022Yield to maturity3.841%Sep 23, 2022Yield to maturity3.981%Oct 3, 2022Yield to maturity4.081%Oct 12, 2022Yield to maturity4.265%Oct 20, 2022Yield to maturity4.531%Oct 28, 2022Yield to maturity4.467%Nov 7, 2022Yield to maturity4.623%Nov 16, 2022Yield to maturity4.122%Nov 25, 2022Yield to maturity4.042%Dec 5, 2022Yield to maturity3.920%Dec 13, 2022Yield to maturity3.814%Dec 21, 2022Yield to maturity4.004%Dec 30, 2022Yield to maturity4.205%Jan 10, 2023Yield to maturity3.952%Jan 19, 2023Yield to maturity3.720%Jan 27, 2023Yield to maturity3.809%Feb 6, 2023Yield to maturity3.868%Feb 14, 2023Yield to maturity3.982%Feb 23, 2023Yield to maturity4.095%Mar 3, 2023Yield to maturity4.173%Mar 13, 2023Yield to maturity3.867%Mar 21, 2023Yield to maturity3.936%Mar 29, 2023Yield to maturity3.940%Apr 6, 2023Yield to maturity3.680%Apr 14, 2023Yield to maturity3.877%Apr 24, 2023Yield to maturity3.881%May 2, 2023Yield to maturity3.838%May 10, 2023Yield to maturity3.907%May 18, 2023Yield to maturity4.065%May 26, 2023Yield to maturity4.175%Jun 6, 2023Yield to maturity4.043%Jun 14, 2023Yield to maturity4.108%Jun 23, 2023Yield to maturity4.030%Jul 3, 2023Yield to maturity4.098%Jul 12, 2023Yield to maturity4.167%Jul 20, 2023Yield to maturity4.131%Jul 28, 2023Yield to maturity4.252%Aug 7, 2023Yield to maturity4.436%Aug 15, 2023Yield to maturity4.516%Aug 23, 2023Yield to maturity4.487%Aug 31, 2023Yield to maturity4.403%Sep 11, 2023Yield to maturity4.581%Sep 19, 2023Yield to maturity4.647%Sep 27, 2023Yield to maturity4.959%Oct 5, 2023Yield to maturity5.108%Oct 16, 2023Yield to maturity5.109%Oct 24, 2023Yield to maturity5.192%Nov 1, 2023Yield to maturity5.153%Nov 9, 2023Yield to maturity4.991%Nov 17, 2023Yield to maturity4.812%Nov 28, 2023Yield to maturity4.749%Dec 6, 2023Yield to maturity4.441%Dec 14, 2023Yield to maturity4.238%Dec 22, 2023Yield to maturity4.228%Jan 3, 2024Yield to maturity4.207%Jan 11, 2024Yield to maturity4.321%Jan 22, 2024Yield to maturity4.445%Jan 30, 2024Yield to maturity4.403%Feb 7, 2024Yield to maturity4.431%Feb 15, 2024Yield to maturity4.563%Feb 26, 2024Yield to maturity4.569%Mar 5, 2024Yield to maturity4.413%Mar 13, 2024Yield to maturity4.462%Mar 21, 2024Yield to maturity4.551%Apr 1, 2024Yield to maturity4.573%Apr 9, 2024Yield to maturity4.595%Apr 17, 2024Yield to maturity4.831%Apr 25, 2024Yield to maturity4.935%May 3, 2024Yield to maturity4.747%May 13, 2024Yield to maturity4.723%May 21, 2024Yield to maturity4.647%May 30, 2024Yield to maturity4.778%Jun 7, 2024Yield to maturity4.630%Jun 17, 2024Yield to maturity4.500%Jun 26, 2024Yield to maturity4.554%Jul 5, 2024Yield to maturity4.557%Jul 15, 2024Yield to maturity4.530%Jul 23, 2024Yield to maturity4.546%Jul 31, 2024Yield to maturity4.398%Aug 8, 2024Yield to maturity4.347%Aug 16, 2024Yield to maturity4.234%Aug 26, 2024Yield to maturity4.169%Sep 4, 2024Yield to maturity4.110%Sep 12, 2024Yield to maturity4.037%Sep 20, 2024Yield to maturity4.084%Sep 30, 2024Yield to maturity4.147%Oct 8, 2024Yield to maturity4.357%Oct 17, 2024Yield to maturity4.417%Oct 25, 2024Yield to maturity4.555%Nov 4, 2024Yield to maturity4.571%Nov 13, 2024Yield to maturity4.703%Nov 21, 2024Yield to maturity4.679%Dec 2, 2024Yield to maturity4.421%Dec 10, 2024Yield to maturity4.465%Dec 18, 2024Yield to maturity4.751%Dec 27, 2024Yield to maturity4.881%Jan 7, 2025Yield to maturity4.954%Jan 15, 2025Yield to maturity4.932%Jan 24, 2025Yield to maturity4.891%Feb 3, 2025Yield to maturity4.788%Feb 11, 2025Yield to maturity4.760%Feb 20, 2025Yield to maturity4.753%Feb 28, 2025Yield to maturity4.506%Mar 10, 2025Yield to maturity4.529%Mar 18, 2025Yield to maturity4.564%Mar 26, 2025Yield to maturity4.657%Apr 3, 2025Yield to maturity4.425%Apr 11, 2025Yield to maturity4.885%Apr 22, 2025Yield to maturity4.878%Apr 30, 2025Yield to maturity4.622%May 8, 2025Yield to maturity4.825%May 16, 2025Yield to maturity4.877%May 27, 2025Yield to maturity4.922%Jun 4, 2025Yield to maturity4.835%Jun 12, 2025Yield to maturity4.779%Jun 23, 2025Yield to maturity4.807%Jul 1, 2025Yield to maturity4.727%Jul 10, 2025Yield to maturity4.802%Jul 18, 2025Yield to maturity4.928%Jul 28, 2025Yield to maturity4.878%Aug 5, 2025Yield to maturity4.667%Aug 13, 2025Yield to maturity4.708%Aug 21, 2025Yield to maturity4.817%Aug 29, 2025Yield to maturity4.762%Sep 9, 2025Yield to maturity4.564%Sep 17, 2025Yield to maturity4.510%Sep 25, 2025Yield to maturity4.617%Oct 3, 2025Yield to maturity4.576%Oct 14, 2025Yield to maturity4.482%Oct 22, 2025Yield to maturity4.412%Oct 30, 2025Yield to maturity4.531%Nov 7, 2025Yield to maturity4.565%Nov 18, 2025Yield to maturity4.595%Nov 26, 2025Yield to maturity4.483%Dec 5, 2025Yield to maturity4.652%Dec 15, 2025Yield to maturity4.703%Dec 23, 2025Yield to maturity4.679%Jan 2, 2026Yield to maturity4.690%Jan 12, 2026Yield to maturity4.651%Jan 21, 2026Yield to maturity4.710%Jan 29, 2026Yield to maturity4.688%Feb 6, 2026Yield to maturity4.678%Feb 17, 2026Yield to maturity4.507%Feb 25, 2026Yield to maturity4.510%Mar 5, 2026Yield to maturity4.587%Mar 13, 2026Yield to maturity4.782%Mar 23, 2026Yield to maturity4.831%Mar 31, 2026Yield to maturity4.764%Apr 8, 2026Yield to maturity4.760%Apr 16, 2026Yield to maturity4.787%Apr 24, 2026Yield to maturity4.763%May 4, 2026Yield to maturity4.905%May 12, 2026Yield to maturity4.909%May 20, 2026Yield to maturity5.006%May 29, 2026Yield to maturity4.862%Jun 8, 2026Yield to maturity4.941%Jun 16, 2026Yield to maturity4.811%Jun 25, 2026Yield to maturity4.754%Jul 6, 2026Yield to maturity4.872%Jul 14, 2026Yield to maturity4.977%Jul 22, 2026Yield to maturity5.062%Jul 30, 2026Yield to maturity5.106%Aug 7, 2026Yield to maturity5.077%Aug 17, 2026Yield to maturity5.171%Aug 25, 2026Yield to maturity5.017%Sep 2, 2026Yield to maturity5.136%Sep 11, 2026Yield to maturity5.263%Sep 21, 2026Yield to maturity5.205%Sep 29, 2026Yield to maturity5.525%Oct 7, 2026Yield to maturity5.597%Oct 16, 2026Yield to maturity5.357%Oct 26, 2026Yield to maturity5.237%Nov 3, 2026Yield to maturity5.225%Nov 9, 2026Yield to maturity5.167%

Price history

1,361 trading days to Nov 9, 2026

60708090100110Jun 1, 2021Nov 9, 2026Jun 1, 2021Close100.469Jun 9, 2021Close102.469Jun 17, 2021Close103.188Jun 25, 2021Close102.563Jul 6, 2021Close105.438Jul 14, 2021Close105.625Jul 22, 2021Close107.188Jul 30, 2021Close107.375Aug 9, 2021Close106.313Aug 17, 2021Close107.188Aug 25, 2021Close106.406Sep 2, 2021Close107.313Sep 13, 2021Close107.219Sep 21, 2021Close107.813Sep 29, 2021Close103.719Oct 7, 2021Close102.969Oct 18, 2021Close104.344Oct 26, 2021Close103.688Nov 3, 2021Close103.969Nov 12, 2021Close104.469Nov 22, 2021Close103.625Dec 1, 2021Close106.563Dec 9, 2021Close105.375Dec 17, 2021Close106.125Dec 28, 2021Close104.938Jan 5, 2022Close102.063Jan 13, 2022Close102.250Jan 24, 2022Close101.438Feb 1, 2022Close100.906Feb 9, 2022Close99.000Feb 17, 2022Close98.031Feb 28, 2022Close99.719Mar 8, 2022Close98.438Mar 16, 2022Close95.031Mar 24, 2022Close94.031Apr 1, 2022Close94.563Apr 11, 2022Close88.563Apr 20, 2022Close87.781Apr 28, 2022Close87.406May 6, 2022Close83.094May 16, 2022Close84.875May 24, 2022Close86.531Jun 2, 2022Close84.750Jun 10, 2022Close82.813Jun 21, 2022Close80.594Jun 29, 2022Close82.719Jul 8, 2022Close82.031Jul 18, 2022Close83.750Jul 26, 2022Close85.188Aug 3, 2022Close86.344Aug 11, 2022Close83.781Aug 19, 2022Close82.844Aug 29, 2022Close82.031Sep 7, 2022Close80.063Sep 15, 2022Close78.938Sep 23, 2022Close77.375Oct 3, 2022Close76.281Oct 12, 2022Close74.313Oct 20, 2022Close71.563Oct 28, 2022Close72.250Nov 7, 2022Close70.688Nov 16, 2022Close75.938Nov 25, 2022Close76.844Dec 5, 2022Close78.219Dec 13, 2022Close79.438Dec 21, 2022Close77.313Dec 30, 2022Close75.156Jan 10, 2023Close77.938Jan 19, 2023Close80.594Jan 27, 2023Close79.594Feb 6, 2023Close78.938Feb 14, 2023Close77.688Feb 23, 2023Close76.469Mar 3, 2023Close75.656Mar 13, 2023Close79.031Mar 21, 2023Close78.281Mar 29, 2023Close78.250Apr 6, 2023Close81.219Apr 14, 2023Close79.000Apr 24, 2023Close78.969May 2, 2023Close79.469May 10, 2023Close78.719May 18, 2023Close77.000May 26, 2023Close75.844Jun 6, 2023Close77.281Jun 14, 2023Close76.594Jun 23, 2023Close77.469Jul 3, 2023Close76.750Jul 12, 2023Close76.031Jul 20, 2023Close76.438Jul 28, 2023Close75.188Aug 7, 2023Close73.313Aug 15, 2023Close72.531Aug 23, 2023Close72.844Aug 31, 2023Close73.719Sep 11, 2023Close71.969Sep 19, 2023Close71.344Sep 27, 2023Close68.406Oct 5, 2023Close67.063Oct 16, 2023Close67.094Oct 24, 2023Close66.375Nov 1, 2023Close66.750Nov 9, 2023Close68.250Nov 17, 2023Close69.938Nov 28, 2023Close70.563Dec 6, 2023Close73.594Dec 14, 2023Close75.688Dec 22, 2023Close75.813Jan 3, 2024Close76.063Jan 11, 2024Close74.906Jan 22, 2024Close73.688Jan 30, 2024Close74.125Feb 7, 2024Close73.875Feb 15, 2024Close72.594Feb 26, 2024Close72.563Mar 5, 2024Close74.125Mar 13, 2024Close73.656Mar 21, 2024Close72.813Apr 1, 2024Close72.625Apr 9, 2024Close72.438Apr 17, 2024Close70.219Apr 25, 2024Close69.281May 3, 2024Close71.063May 13, 2024Close71.313May 21, 2024Close72.063May 30, 2024Close70.844Jun 7, 2024Close72.281Jun 17, 2024Close73.563Jun 26, 2024Close73.063Jul 5, 2024Close73.063Jul 15, 2024Close73.344Jul 23, 2024Close73.219Jul 31, 2024Close74.688Aug 8, 2024Close75.219Aug 16, 2024Close76.375Aug 26, 2024Close77.063Sep 4, 2024Close77.688Sep 12, 2024Close78.469Sep 20, 2024Close78.000Sep 30, 2024Close77.375Oct 8, 2024Close75.281Oct 17, 2024Close74.719Oct 25, 2024Close73.406Nov 4, 2024Close73.281Nov 13, 2024Close72.063Nov 21, 2024Close72.313Dec 2, 2024Close74.813Dec 10, 2024Close74.406Dec 18, 2024Close71.719Dec 27, 2024Close70.563Jan 7, 2025Close69.938Jan 15, 2025Close70.156Jan 24, 2025Close70.563Feb 3, 2025Close71.531Feb 11, 2025Close71.813Feb 20, 2025Close71.906Feb 28, 2025Close74.250Mar 10, 2025Close74.063Mar 18, 2025Close73.750Mar 26, 2025Close72.906Apr 3, 2025Close75.125Apr 11, 2025Close70.875Apr 22, 2025Close70.969Apr 30, 2025Close73.344May 8, 2025Close71.500May 16, 2025Close71.063May 27, 2025Close70.688Jun 4, 2025Close71.500Jun 12, 2025Close72.031Jun 23, 2025Close71.813Jul 1, 2025Close72.563Jul 10, 2025Close71.906Jul 18, 2025Close70.813Jul 28, 2025Close71.281Aug 5, 2025Close73.219Aug 13, 2025Close72.875Aug 21, 2025Close71.906Aug 29, 2025Close72.438Sep 9, 2025Close74.281Sep 17, 2025Close74.813Sep 25, 2025Close73.844Oct 3, 2025Close74.250Oct 14, 2025Close75.156Oct 22, 2025Close75.844Oct 30, 2025Close74.750Nov 7, 2025Close74.469Nov 18, 2025Close74.219Nov 26, 2025Close75.281Dec 5, 2025Close73.750Dec 15, 2025Close73.313Dec 23, 2025Close73.563Jan 2, 2026Close73.500Jan 12, 2026Close73.875Jan 21, 2026Close73.375Jan 29, 2026Close73.594Feb 6, 2026Close73.719Feb 17, 2026Close75.313Feb 25, 2026Close75.313Mar 5, 2026Close74.625Mar 13, 2026Close72.906Mar 23, 2026Close72.500Mar 31, 2026Close73.125Apr 8, 2026Close73.188Apr 16, 2026Close72.969Apr 24, 2026Close73.219May 4, 2026Close72.000May 12, 2026Close72.000May 20, 2026Close71.188May 29, 2026Close72.469Jun 8, 2026Close71.813Jun 16, 2026Close72.969Jun 25, 2026Close73.500Jul 6, 2026Close72.500Jul 14, 2026Close71.625Jul 22, 2026Close70.938Jul 30, 2026Close70.594Aug 7, 2026Close70.875Aug 17, 2026Close70.125Aug 25, 2026Close71.438Sep 2, 2026Close70.469Sep 11, 2026Close69.469Sep 21, 2026Close69.969Sep 29, 2026Close67.438Oct 7, 2026Close66.906Oct 16, 2026Close68.844Oct 26, 2026Close69.844Nov 3, 2026Close69.969Nov 9, 2026Close70.469
The most recent 20 trading days of prices for 912810SY5.
DateBidOfferClose
Nov 9, 202670.46970.53170.469
Nov 6, 202670.53170.59470.563
Nov 5, 202670.62570.70370.688
Nov 4, 202670.15670.21970.375
Nov 3, 202670.06370.14169.969
Nov 2, 202670.50070.56370.250
Oct 30, 202670.00070.06370.031
Oct 29, 202669.90669.98469.875
Oct 28, 202669.65669.71969.375
Oct 27, 202669.90669.96969.906
Oct 26, 202669.84469.92269.844
Oct 23, 202669.75069.82869.688
Oct 22, 202669.62569.70370.063
Oct 21, 202668.90668.96968.813
Oct 20, 202668.78168.85968.813
Oct 19, 202668.50068.57868.375
Oct 16, 202668.93869.00068.844
Oct 15, 202668.75068.84468.750
Oct 14, 202667.59467.65668.000
Oct 13, 202667.68867.75067.750

Prices are per 100 of face, from Treasury's own end-of-day file. A dash means that side was not quoted that day, which is almost always the offer and almost always near maturity: a holder of a bill days from paying par has little reason to sell it.

3 auctions

A CUSIP can be auctioned more than once: Treasury reopens an existing security rather than issuing a new one, so the same bond is sold again at whatever yield the market then wants.

Auction history for 912810SY5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 19, 2021Jun 1, 2021New issue$27.0bn$32.2bn2.24x2.286%
Jun 15, 2021Jun 30, 2021Reopening$24.0bn$27.6bn2.40x2.120%
Jul 21, 2021Aug 2, 2021Reopening$24.0bn$26.3bn2.33x1.890%

The curve this was priced against →

Index levels before September 30, 2026 are back-tested. They were computed after the fact by applying the rules to historical data, which benefits from hindsight in the choice of rules, and an index cannot be invested in directly. Methodology v1.0 takes effect at that rebalance, when levels begin to be struck on the day; the rulebook is identical either way, and the version is published on every row.

A fitted curve is a fit, not a quote. Daily error averages 3.8 basis points across the history and reaches about 20 on the worst days, in December 2008, when the market was genuinely hard to fit one smooth curve to. Every curve page publishes its own fit error rather than burying it.

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Safe Rate™, Safe Rate Indices™ and the Safe Rate US Treasury Index™ are trademarks of Safe Rate, claimed through use in commerce and not registered. Third-party marks are the property of their owners, which are not affiliated with and do not endorse this data.

Curves are fitted from public Treasury data and carry fit error; figures are not a record of trading, and an index cannot be invested in directly. No claim of compliance with the IOSCO Principles for Financial Benchmarks is made or implied. Not investment advice, not an offer, and not a recommendation to buy or sell any security.